Weekly Profit for 9th to 13th December, 2013

Weekly Profit for 9th to 13th December, 2013

Summary of profit

EURUSD = 55pips

AUDUSD = 155pips

USDJPY = 213 pips

AUDJPY = 310pips

IN TOTAL A POTENTIAL OF 733PIPS PROFIT! (MINIMUM 386pips!)

Total 17 trades, 3 losses = 82% Accuracy

p.s - for those who don't believe, All my blogs are dated and timed :-) no bs!

Result of my analysis for 13.12.13 (Friday)

Result of my analysis for 13.12.13 (Friday)

It was a very quiet day as I had no recommendations for two of the pairs.

AUDUSD - No trade

USDJPY - No trade

AUDJPY - Long Trade 40pips profit

EURUSD - Long Trade 35pips

Total 75pips

Hows that for a friday :)

Cheers

Result of my analysis for 12.12.13 (Thursday)

Result of my analysis for 12.12.13 (Thursday)

AUDUSD - Short trade - Gained 20pips in less than an hour - however maximum possibility of 140pips

USDJPY - Long Trade - 20pips minimum out of possible 100pips

USDJPY - Short trade - 10pips profit

AUDJPY - #1 - loss -10pips

AUDJPY - #2 - Gained 30pips out of possible 50pips

EURUSD - Short - 40pips

In Total - Minimum of 110pips out of possible 330pips!

Hows that for results! :D

EURUSD Daily Outlook for 16th December, 2013 (Monday)

EURUSD Daily Outlook for 16th December, 2013 (Monday)

Daily Chart

Saw this pair retest the 78.6 fib level support and saw a good daily candle showing good rejection from that area.  Although stochastic are in overbought levels, our view is to go long.  

• Pin bar candle on daily 
• Good support at the 78.6 fib level (1.37050)

Hourly Chart

"My Friday forecast was nearly to the pip"

My forecast for a long trade on Friday was nearly to the pip, And I have identified a possible bullish crab forming on my Friday analysis which is now completed. 

• Stochastics are diverging , and we may retest the support at 1.37100 area
• Until we breach 1.3700 level, this bullish crab is still in play

Outlook Trade opportunity

Because my view is that we have a bullish crab, any retest of Supports or Daily S1 we should go long

#1 - Long at Daily S1 pivot - and intraday ride to daily pivot, or further

#2- Long at Daily PIVOT if monday open with a gap higher and finds support there. and TP at R1

Risk Level Low

Tips -

Always take note of any economical news event on our provided calender below

AUDUSD Daily Outlook for 16th December, 2013 (Monday)

AUDUSD Daily Outlook for 16th December, 2013 (Monday)

Daily Chart

On Friday we saw the aussie recovered very little from the lows, and the trading range was small. My view for this pair is that it will go lower to the 0.87 in the medium term.

It seems we maybe due for a correction to test the 0.90 and maximum to the 0.92 area then we will start heading south again

Hourly Chart

After a big fall on Thursday, we recovered very little , around 38% , currently at the 38.2 retrace.

We believe the possibility of finding new lows this month is more likely.  Stochastics on the hourly shows its overbought 

• Overbought stochastics
• Trading under .90 again since august 2013

Outlook Trade opportunity

We are looking to enter short during this times as i believe there is momentum to the downside to find at least 88.90 (august lows).
#1 - Short at around 0.89900 - 0.90200 - Have multiple TP levels at fibonacci levels / Daily pivot.

This trade has a risk that we are trading in a reversal zone , because on the daily, there have been three wave down, and looks like we are in a correction / reversal.

Risk Level __HIGH

Tips -

Always take note of any economical news event on our provided calender below

USDJPY Daily Outlook for 16th December, 2013 (Monday)

USDJPY Daily Outlook for 16th December, 2013 (Monday)

Daily Chart

" Could this be it?"

Interesting one to look at on a daily chart and with the exhaustion candle from Friday,  It shows this could be it and we are going south now, so based on the daily confluence of the below points - I would go short

• As I mentioned on Friday, until we make a lower low in a daily chart, we are still in a uptrend
• Divergence
• Tried to penetrate previous highs, but failed to close the day above.
• Exhaustion Candle from Friday
• Bearish Butterfly pattern is formed (identified last week) - however still valid if we were to go higher to 105
• Note - Weekly Chart candle - shows some indication and momentum to the upside

Hourly Chart

"103.00 shows good rejection pins"

After trying new highs on Friday , it has rejected hard but found support at the 103.00 area, Based on the hourly chart, I still can see upside possibility even though in the daily we have a bearish bat, however this pattern is still valid up till around the 105-106 area, which suggest maybe we could go higher on the event a possible no taper from the fed?

• Price action seems to have found support at 103, 
• I am bias toward going higher on this C to D leg to break highs and close above

Outlook Trade opportunity

Please see my Illustration, 

The blue area is where we will go long entry, 

The Red is where our stops will be (or few pips below the red)

The Green is where I think prices should go, 

Take profit area - Please take partial profit, as we reach minor resis / fib levels / Daily Pivots

**Updated Monday 04:20GMT - Above setup is invalidated, Prices went below red area (where stops ) Resulted in a approx 15pip loss.
Current prices is around the 102.720 which is a 200Fib extention from the initial down move, so a possible scalping is here, which i will take now

Cheers

Risk Level Low to Medium

Tips -

Always take note of any economical news event on our provided calender below

AUDJPY Daily Outlook for 16th December, 2013 (Monday)

AUDJPY Daily Outlook for 16th December, 2013 (Monday)

Daily Chart

"Ended the Week Lower"

Last week was a interesting one where we have fully retraced the previous week's gain.  However good support is still at the 38.2% retrace of around 91.890.  If we look at the indicators, and draw a trendline from the lows Friday's action has broke through that trendline.  

It will be an interesting week ahead and if i base my analysis purely on the daily chart, and because of the indicator trendline broken to the downside,  it seems it likes to break the support and find the next support at 91.10 (50% retrace). (BUT PLEASE READ MY FORECAST ON THE HOURLY CHART)

• In a downward channel
• Stochastics Trendline broken

Hourly Chart

On Friday It traded pretty much in a range from Thursdays Europe and NY Session. It will be interesting what Monday open will give us.  

• Traded in range of Thursdays European and NY session

Below is a 4 hourly chart, where I have illustrated my forecast of this pair in the very near term (this week).  If it goes to my forecast, then we are here for a harmonic trade of a bearish bat pattern.

• We are now on the C to D leg of the bat pattern
• My Bias is on Monday we will open higher, and on a retest and hold of monday's daily pivot we can go long so we can ride the wave up to D

Outlook Trade opportunity

I believe there is a good possibility we are creating a bearish bat, and we are on the C to D leg.  

#1 If market tests Daily S1, Go long take partial profit at Daily Pivot, R1 and so on
#2 If market open higher and Daily pivot holds, go long Take partial profit at R1

Note - good money management required for this trade if you want to ride it up, For intraday traders, you could probably just take profit at the first reached pivot (approx 40-50pips profit)

Risk Level Medium - High

Tips -

Always take note of any economical news event on our provided calender below